Skip to main content

tv   FOX Business After the Bell  FOX Business  November 30, 2012 4:00pm-5:00pm EST

4:00 pm
this month. and nasdaq certainly doing well for the weekend. liz: you could look at those names, and a big move over the past couple days, they had earnings that would good. yum brands was one that is struggling certainly so it is a tale of each stock. >> exactly. liz: the bells are ringing on wall street. let's take a look and see how stocks are finishing a. the s&p 500 looking to leave out a gain here of a fraction of a point but right now it is -- we got to wait to see how it ends and keep the trade settled because it is too close to call, you see the russell 2,000 moving by more than a point so that could be a real call to the downside. dave: not the bells are ringing but a claim because we are not sure but gold bugs had better beware because goalpost losses
4:01 pm
for the day, the week, the whole month, gold lost $15, the lowest settlement since november 5th. goldbugs, we are sorry. liz: that moves gold exchange traders lower, these are a feud names we don't always talk about. look at the deutsche bank double wonka gold et of dropping one.3% and if you flip over to the pro shares, that one is down 1-3%. dave: despite all the confusion in washington, it is pushing up to new york in terms of what is happening to the vix has been down. we talked about that. a bird down meaning volatility was down. today going in the other direction. perhaps seeing a bump because of confusion and growing distance between republicans and democrats on any kind of resolution on the fiscal cliff but for whatever reason little more volatility in the market today. liz: he has been named one of the most influential people of
4:02 pm
the entire 20th century and going over the fiscal cliff will derail the biggest economic driver in the u.s. and that is biotech. mike milken talking about life-saving drugs, jobs that come with them and our status as the leader of the industry, all at stake if we go over the fiscal cliff. and dr. francis collins with the national institutes of health. fiscal cliff. folks
4:03 pm
including today to liz hy malcolmed the month of november and the red and nasdaq and s&p close slightly higher, consumer discretionary and industrials were this month's top performing sectors, utilities and energy lagged behind. oil posting its second straight day of gains closing the trading day up 1%, $80.91 for a barrel of oil and today's gains in crude up 3% for the month of november as concern over threats to supply due to mideast violence offset ongoing demand worries and personal spending, are you part of this, it sold for the first time in five months dropping 0.2%. the commerce department is a debating that to hurricanes and the lowering wages and salaries by an annual rate of $18.2 billion. dave: we may get a dividend bust in the month of december and discuss all of these issues we have kevin in the pits of the
4:04 pm
cme and joe durant and united financial telling us what brand names are the best place to invest and travis, in treaded capital management, put your fears aside, the active during market volatility, a good time to invest. let's start with news in washington. we will kaput wall street journal, here's the cover story about how this divide is growing on fiscal cliff the white house came out with these huge new demands. before, they were talking about increasing rates. that was bad enough and now they saves increase rates and get rid of deductions. a huge increase in demand on tax rises. does that concern you? >> absolutely. this is a proposal was brought to the table and on the republican side kind of laughed at and not take it seriously at all. some concern for the market because we are no closer than we were two week ago to any kind of agreement at all and if history
4:05 pm
has taught us anything with washington d.c. they don't solve anything until it comes to the last minute and all that uncertainty creates a lot of volatility in the market and we're seeing that more and more and will continue to see that for the next 30 days. liz: you to in this out and listen with one ear because you have been long-term bullish. how do you proceed when there is this echo chamber out of washington d.c. about the fiscal cliff? >> what you need to realize is regardless of where they end up, they have reduced standing and high taxes. you get a lot of noise. what i am seeing that is very bullish for us is the fact that there's a lot of intraday swinging, we got weeks, the market is holding up extremely well and what everyone has priced in is the government is going to be keeping more of our money and giving benefits but what also factored in is the fact that real-estate has turned
4:06 pm
a corner and that is a much bigger driver of next year's growth and there might be some uncertainty everyone believes even if we go over the cliff they will get to resolution a couple weeks after that and the market might need to go 500 points to get them to do something they will still do something. dave: a very interesting point. the market has priced this volatility inside. i am wondering how far the pricing goes. for example because the demands from the white house were so extreme there were no spending cuts at all except that promises about the future of medicare and double the cost of tax increases. if they don't reach a conclusion ben bernanke says we are a recession, has that been included in the price of the market? >> i don't see how it can be. with the vix close today was 15 and the proposal is ridiculous. the last 70 years, a percentage
4:07 pm
of gdp, spending is about 20 and 50% of taxes of gdp is revenue and spending is 24.5 so i got to ask are we spending too much or raising revenue? liz: the white house with their new demand and republicans saying no go and we go into a real serious downturn, what happens to the market? are we looking at a 2009 situation here? >> i will be ready if we do. we as valuation sensitive investors intrepid, look at the last three years. despite the volatility, in may of 2010, the debt downgrade in august of 2011, diaz in the compound last few years the russell 2,000 is over 14.
4:08 pm
given away a lot of security. liz: those were all buying opportunities. if you look at the trader, you have technicals of what happened on a certain day and those were great opportunities. if the market falls will we see seasoned traders jumping in and should our viewership do the same? >> it does present a good buying opportunity because what history has taught us is those have been great buying opportunities, and are hard look at what needs to be done to make the economy move forward. i don't think any politician wants to have on their watch to see this economy going into another recession and to avert that from happening both sides have to come together and reach a deal. markets trying to price and -- is ot impossible to sell off if we continue to see this uncertainty, if we had those key technical levels it is a buying opportunity for big investors
4:09 pm
and the public as well. dave: i was talking to a trader in london earlier today, he was saying europe has tried, france and england and spain raised taxes and this is not created any economic growth. some people looking at china, despite the talk about how china's economy is slowing down, there may be interesting places to put your money over there. do you agree? >> i completely agree but don't think that is directly in china but there are some great u.s. companies that make revenues to the rest of the world and -- proctor and gamble, all of our tobacco companies, we have brands like starbucks, the rest of the world aspires to end huge middle-class being created all over the world growing in double digits and our companies have brands that are inspirational so it is a generational advancement shift that we have been huge
4:10 pm
proponents of and since -- we don't recommend any trading, just be careful and cautious and invest with 3 to 5-year windows and attitude growth opportunity for many years to come. liz: what will you do when you feel prices are cheap or the market is cheap? what names will you be buying? show us and the money. >> you sound like my wife. today was heyday, by the way. i think that again, bottom up valuation system with investors, when something reaches its full valuation the way we look at it, prices are low, cash levels of low, prices are high, it is countercyclical, we will have readily available cash to put to work at attractive prices. two names of data i like trade at 5 to 6 times their cash flow,
4:11 pm
one name in a space that has been beaten up over the course of this year's patterson, shares are a little under 18 on an asset valuation or discounted cash flow we can get you to the low to mid 20s. another name that is shocking statistic, a company called big lots, you can bar all you want for $28. it is $1 billion market cap but believe it or not since the start of 2010 they bought back a billion dollars worth of shares. great catch out of their 1500 off priced liquidation stores, and the type of thing that if we do go into recession people are going to need and use that type store. we have got a long grocery list and credit capital, we update biweekly and the price is right, we will be in the market but i would like to see more
4:12 pm
volatility and -- dave: wonderful overview of where we are going as we end the trading month. market travis, joe durant and kevin brady, we will see you as the cme closes later on. appreciate it. liz: housing edfs soaring as investors of gotten optimistic. more and more optimistic about a housing recovery but we are bringing back the guy who way before this started to happen call that and made a lot of money on it but he is now saying there's one thing that could put a crack in the recovery's foundation. you need to hear what he has to say now and when he makes money. dave: the white house weighing out its opening bid in budget talks with republicans and not being received well. some are saying it may be a step backwards. we are live in washington with latest. liz: biotech is one of the sectors of the economy that is
4:13 pm
working and creating jobs with 22 new biotech drugs brought forward this year. could going over the fiscal cliff negative impact the life-saving research that is being done and the job creation in that area? we are talking to two of the top minds in the country on this. mike milken of the milliken institute and dr. francis collins of the national institutes of health coming up with solutions to your problems and also job creation. [ male announcer ] this is steve. he loves risk.
4:14 pm
but whether he's climbing everest, uba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, ich isn't rocket science. it's just common sense, from td ameritrade. ich isn't rocket science. those little things for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for ily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only dail ed tablet approved to treat ed and symptoms of bph,
4:15 pm
like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. if you have any sudden decrease or loss hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial.
4:16 pm
liz: s&p futures pit closing. what are we expecting for monday? >> all little bit of a lower close in the afternoon and looking at manufacturing data coming in to monday. all eyes will be on as well as washington d.c. what do we get over the weekend and what we get coming into monday? any more rhetoric coming out of that and markets gyrate back and
4:17 pm
forth based on that information. dave: have a wonderful weekend. shares of citigroup dropping today. let's head to lauren simonetti on the floor of the stock exchange, the latest as to why that happened. >> a look at citigroup shares. they're down 1.8%. of bloomberg report says citigroup cut into 150 employees in trading and investment banking, those will reportedly be cut this quarter. also likely cutting bonuses by 10%. they cut jobs as well, so more clamping down on that. back to you. dave: job cutting at christmas. that is the sad thing to happen. liz: never a good time to lose a job. president obama on the road pushing his fiscal plan to raise taxes on the top 2% and spend $50 billion on infrastructure.
4:18 pm
dave: the opening visit not well-received by gm be leaders, the senate demand represents a step backwards because it is twice as much in tax increases as expected. peter barnes is in washington d.c. with the details and not much movement on the cutting of spending either. peter: president obama and john boehner in front of cameras to make their cases in the battle over the fiscal cliff. the speaker said he is willing to move forward with negotiations in good faith after republicans rejected the president's first formal offer yesterday as being short on spending cuts, but it doesn't sound like anyone has put the brakes on the road to the coin. >> let's not kid ourselves. i am not trying to make this more difficult. i have been very guarded. i don't want to make it harder for me or the president or members of both parties to find
4:19 pm
common ground. >> this is not some run-of-the-mill debate, not about which political party can come out on top in negotiations and all of us get out of our comfort zones to make that happen. i am willing to do at and i am hopeful enough members of congress in both parties are willing to do that as well. >> the president's plan repeat his demand for $1.6 trillion over ten years on families making $250,000 a year and includes $400 billion in cuts, savings in medicare and medicaid and other entitlements over the same period. the president wants to extend the current payroll tax cut for the year. that will cost 1 hundred billion or so and his plan includes billions in stimulus measures including $50 billion in new infrastructure spending. appears to be trying to break the impasse.
4:20 pm
he told the wall street journal republicans might be more willing to accept higher tax revenues if the president will support changes to entitlement programs such as increasing the eligibility age for medicare. liz: so there is some push and pull and discussion. dave: we will see. some pretty hard-core proposals on the floor. next week is going to be fascinating. one drug manufacturer halting production of one of its popular drugs do to glass particles in packages. we have the details. liz: one of the greatest minds in the country says going over the fiscal cliff will derail what he says is the biggest driver of economic growth in the u.s. and that is biotech. not only do we stand to lose our leadership status in the area but we will lose jobs. we are talking to mike milken of the milken institute and dr. francis holland of the national institutes of health.
4:21 pm
you ow how painful heartburn can be. for fast, lg lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®.
4:22 pm
4:23 pm
4:24 pm
liz: the biotech industry has been one of the bright spots in the u.s. economy. industry grew 6% compared to the 2.9% shrinkage in overall u.s. private sector jobs but going over the fiscal cliff could very well derails this massive growth engine and stahl research of potential life-saving drugs. i sat down with two of the top mined in the country, mike milliken of the milken institute and dr. francis collins,
4:25 pm
director of the national institutes of health and asked how damaging a hit this industry would take if we don't get our fiscal house in order. >> the office of management and budget estimates that would lose $2.5 billion of research money on january 2nd. of we go over the cliff that is a.2% of our budget. with investigators who come was with their best ideas already having only one chance in six of getting funded could eat get even worse. and i would fear at that point that young scientist may give up the opportunity to do this or move to a country where they are better supported. the stakes are very high for medical research in the next few weeks. >> i think this is an important issue for the american people. we made significant incremental investment of $200 billion between 1998 and today. we are the dawn of an entire new
4:26 pm
age. the leading countries in the world in this century will be in the biosciences. the solutions are there. if we don't provide the opportunities, scientists will be in china and india and singapore. liz: if you had the ear of congress right now as they dither over the fiscal cliff discussions what would you say as it pertains to your passion? >> obviously we have a lot of passion and the education and health care but once again this is the number one driver of economic growth. liz: of all the funding might get cut if we go over the fiscal cliff, doesn't that create a massive stumbling block for you guys, what you're trying to do? >> there are two areas you are raising. it will be shifting asia. china is not cutting their commitments, they are increasing their commitments and india is dramatically increasing, singapore is dramatically -- the uk is investing more.
4:27 pm
we are talking about where is the center of innovation, where will the company's -- it is not that it is not going to exist but it will shift -- liz: we will lose our leadership. >> we will lose our leadership of we don't recommit. liz: are you worried we are not turning out enough doctors and scientists in this nation? >> we are probably not turning out enough research scientists with clinical expertise and i am afraid some young people who are interested in this, do i want to take on all those risks, people struggling to keep laboratories going and maybe decide to do something else. the most important resource we have is the talent, to be able to recruit and retain that talent is the most important job i have, and not sure that we are able to do that in the current
4:28 pm
uncertainty. liz: in the first half of your career you financed entrepreneurialism companies, bob toll of toll brothers, steve wynn, the casino giant end now you shifted that to this area. why? >> there are thousands of people who worked on this and tens of thousands of companies today and much of those names we used to finance the country which collectively created sixty million new jobs in our country, those techniques are the same we are deploying here, accelerating research at this time, trying to figure out how to take a process from three years to six months but the underlying effect, the major in any country is the productivity of its people, human capital. that is the number one answer.
4:29 pm
liz: mike milken and dr. francis collins of the national institutes of health, they make a crucial point, biotech is a real job driver. those numbers of doctors are stunning. and china is turning out more doctors. dave: quality is important. quality of medical education is so high that many are concerned that will be slipping as we need more doctors. we need thirty million people to insure and more doctors and less of them so the quality of our medical education may deteriorated. dave: the graying of america. liz: people living longer. we need what they are developing. >> forget the fiscal cliff, the most significant deadline for congress may not be for a few months. lenore hawkins telling us why this thing could trigger big moves for your money. liz: despite strong reports, we have housing bull who was really ahead of the game who now says
4:30 pm
there is one thing lurking out there that could derail the it recovery. what is and how you can play and make money. fall was on facebook. log onto facebook.com/"after the bell" and tell us what you think. the you get excited about the housing market? is there another leg down.
4:31 pm
4:32 pm
streamline the process? at fidelity, we it by merging two toolinto one, combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated techcal analysis is one more innovative reason seous investors archoosing fidelity. now get 200 free trades when you open an account.
4:33 pm
david: time for a quick speed read of some of the day's other headlines, five stories in a minute. ranbaxy laboratories is halting production of its generic version of cholesterol drug lipitor. this comes after the pharmaceutical company found glass particles, you don't want them in a bottom of anything you have involving medicine. german lawmakers approving $151 billion bail yet package for greece. they came to cut the debt load 124% to gdp. that is down where it is. >> ford fusion named its green car of the year. they won on the basis of fuel efficiency and multiple power train apshuns. apple announcing china launch date for the new gadgets. they will sell the ipad mini on december 7th and the iphone five on the 14th. u.s. birth rate hit a record low in 2011. 62.3 babies per 1000 women
4:34 pm
roughly half of what it was during the baby boom. that folks, is today's speed read. so have more babies. have more babies. [buzzer] liz: glass in lipitor. david: no, don't want glass in lipitor. that is one way to cut cholesterol. liz: oh, my god. thank you, david. the housing sector, is seeing a slew of positive data this month. housing starts are reaching the highest level in years. home prices for example, rising for the sixth consecutive month and pending home sales are hitting a five-yearrhigh. existing home sales are ticking higher. david: get this. our next housing analyst says there is one headwind that could derail the housing recovery. we have the director of equity research at rbc capital markets. and if you've been watching here on our show you had information that made you a lot of money. thank you for all the valuable hints. our investors made good profit out of them. one thing happening in d.c.
4:35 pm
right now you say could derail the progress we've made in housing and that would be what? >> just for starters what liz said is absolutely correct. we're in early innings of a multiyear housing recovery. that housing recovery could be derailed if the interest tax deduction associated with mortgages is reduced or eliminated. david: today we had the white house proposal which was not only raising tax rates on the so-called rich but also capping the deductions and those would include housing deductions on mortgage interest. now if it is capped at 25,000 or even 50,000, would that be enough to hurt the market? >> dollar value on mortgage set at a million. we think housing market can flex down to 750,000. anything lower than that would be catastrophic for the publicly-traded homebuilders of the so the big risk is both. this change to the tax code which makes it advantageous to be a homeowner and the fiscal cliff. these are two headwinds would could definitely derail the recovery. we remain adamant that the
4:36 pm
underlying trend are terrific. we're just very concerned about these new developments. liz: what are the chances? can you game it that would be one of the deductions gets cut or at least trimmed? >> it is very tough to handicap that at this stage. i don't know you can given how chaotic and unproductive it has been in d.c.. liz: or how vocal lobbyists get. lobbyist well beginning swing in on every level. we're finally getting recovery in the housing industry. >> right. the trage -- tragedy of such concern if we are to get the economy back on the right track and get growth housing will show leadership. housing will spur jobs and consumption. we need to protect the housing market in very vulnerable stage at early piece of housing recovery. david: you're extraordinarily valuable to our viewers because of some of your picks. >> thank you. david: all the picks you pade in housing made a lot of money over the last few months. you have a defensive pick.
4:37 pm
you're assuming that the housing recovery is not derailing. go to defensive pick which is usg corporation. they make building material. >> usg is the worldwide leader in wall board production. they have done a great job getting price in the current environment. you see explosive earnings growth. you have a top tier high quality management team. new products roll out at home depot gaining share. better pricing. which like the story going into 13. liz: could i say you see the spike around the time. hurricane. usg was heavily bought right after hurricane sandy because precisely of this but does that sustain? >> we think more important than the volume story their ability to achieve higher pricing levels. wall board is about $130 per thousand board feet. we could see that go to 145 next year. it is most inflationary single item in the building products universe. this is big driver of earnings. liz: tied to lumber or what? >> no. better pricings strategy. one price for the entire year as opposed to different
4:38 pm
prices to different customers. david: now you have a defensive pick. if you're less certain about the continued economic recovery you would pick fortune brands home and security. why? >> yes, sir. fortune brands is market share leader in plumbing. market share leader in the cabinet business. huge exposure to new residential construction. if they get higher volumes, that will drive profitability. have ex-streamly high quality management team. the best in class operator. we like their dominant dogs in the categories they operate. look for continued share gains and extremely robust earnings growth. they do 80 cents this year. 1.10 to $1.25 next year. david: they traded to $30. you have target 35. you think 15%? >> by end. next year we're looking 15% move in this name. liz: he has been right before. robert wettenhall. david: thank you, robert.
4:39 pm
you think the fiscal crisis is the biggest danger facing america? we have a top strategist who says there is bigger problem lurking just around the corner that could spell big trouble for the economy. lenore hawkins joins us next. liz: taxes might not be only thing facing increases from the fiscal cliff. look on your screen. milk prices. could they double if we fail to reach a deal? we're live on a farm we details on that possibility
4:40 pm
4:41 pm
>> i'm sandra smith with your fox business brief. stocks spent the day drifting between gains and losses as investors focused their attention on washington and the fiscal cliff negotiations. amr looking for more time to submit a bankruptcy restructuring plan. the airline along with its creditors has filed a request in a manhattan bankruptcy court to extend its exclusive right deadline to march 11th. earlier this year amr said it would prefer to exit as a
4:42 pm
stand-alone company but is discussing merger options. long island power authority chairman howard steinberg has reportedly resigned from his post effective immediately. that is according to news day. steinberg's resignation is a latest in string of departures following the criticism of the utility's company performance in the wake of superstorm sandy. that is the latest from the fox business network, giving you the power to prosper. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a stomer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. when we got married. [ male announcer ] break from the holiday stress. i had three kids.
4:43 pm
and she became the full time mother of three. it was scer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. david: treasury secretary tim geithner must have known that he would shock republicans with the audacious demands on the white house on the debt crisis twice amount of tax hikes that than were expected. spending increase for a new stimulus plan rather than any spending cuts and unrealistic demand white house take over from congress to set debt limits that last suggestion most interested our next guest.
4:44 pm
lenore hawkins emeritus advisors founding principle. lenore, a lot of unexpected things from the white house opening demands. "wall street journal" called it eye-opening t was that last thing that opened up your eyes. why were you focused on the debt limit part? >> it is hard to see how this negotiating tactic will help bring the two sides closer together. to see the white house now trying to take the fiscal ability for congress to control at least, to some degree, take that completely away from congress is rather shocking. we've already seen over the years where congress has given up more and more of its power to the presidency but this is really unprecedented move and i don't see how this is going to help get congress and the president to be working closer together. david: now most of the traders we've been talking to this week had said, well, there will be some accommodation. even people today after the white house made its demands, this is the first stage, early days, they start their negotiating tactics high but, i don't think many people
4:45 pm
thought they would start this high, the white house would? >> this is i think rather shocking to see republicans for the first time saying that they're willing to talk about potentially a tax increase. and then to have the white house come back and say, thank you, now double that down. that is an interesting technique which leads one to believe are they really trying to work towards some sort of a compromise? it appears with this administration compromise means doing it my way. david: now, again, some people have even gone so far, reacted so strongly what the white house, said maybe the president doesn't even want a resolution. if he doesn't get one, what happens? we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president
4:46 pm
doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work with the other side and how you can work with the other side. to make demands that are this far off of where we were starting from, seems to knot be really trying to move forward on this so it does lead one to wonder what he is trying to do. we've got the real problem out there, we've got the fiscal cliff, yes, that's interesting but what is really concerning is hitting that debt ceiling which will probably happen sometime around february. we all remember what that was like in august of 2011 and this group seems to be even less willing to work together now than they were in august of 2011 which really lock rocked markets all over the world. david: the question how do we keep our money safe and you actually have a couple of suggestions one which we already talked about. china, yes it has sloane down and as a result a lot of its market valuations have come down but perhaps if europe is not doing it right, if we're not doing it
4:47 pm
right with regard to growth straygy perhaps china will. you have fax, aberdeen asia-pacific fund? >> yes. in a bit of irony things really evolved in the markets where you used to have developed economies were great stable economies with good financials. emerging companies have much better looking balance sheets. fax has a great track record over any three-year period. they have never lost money but we do like to buy them when they have a good, the price is at a good discount to nav. it happens now and then. happened couple weeks ago on november 14th. it was a great dip, a great buying opportunity. we wait. we're picky when we come in. we're waiting for another opportunity. david: we're almost out of time. i want to get your second pick, corporate bond fund lqd. why do you like them quickly. >> again governments don't look nearly as good as corporations. corporations have record levels of cash and really healthy balance sheets and looking to pay off great
4:48 pm
income. david: lenore hawkins, emeritus advisors, have a wonderful weekend. >> you too. thanks for having me. david: liz? liz: could americans be facing a fiscal food cliff at the supermarket. listen, there are all kinds of tentacles on this story. jeff flock is in woodstock, illinois. ah. >> i am looking at one of the nation's future milk producers although, right now she is interested in getting a little more milk herself. i don't think much luck with that right now. would you like to pay more for milk at the store because of the fiscal cliff, in part, i will explain why that is a possibility. man. she is hungry one. back in a minute. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare.
4:49 pm
maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.m today. and now you're protected. get started at legalzoom.m today. i have obligations. cute tobligations, but obligatio.ing. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors
4:50 pm
choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment oectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.
4:51 pm
4:52 pm
david: it may actually be time to cry over spilled milk. lawmakers and farmers warning that milk prices could jump if congress doesn't pass a new farm bill. liz: some legislators are pushing to include the bill in the fiscal cliff deal. jeff flock is at a dayry farm in woodstock, illinois with details. jeff. >> time to feed the calfs. these are 10-day old calfs.
4:53 pm
we don't have a farm bill. because of this what are we looking at milk prices next two months? >> say if nothing happens? by the end of the year we'll have to go back to the laws like in the '40s. milk prices will more than double to the consumer. >> last time with a permanent farm bill until this country was 1949. that means milk prices would double in the u.s.? >> absolutely. which is not a good thing. >> for anybody. >> no. for the farmers short term% it might be good but we have to look long term. our market is so important. much of our market is worldwide. our export market would be destroyed. that is 14% of ours. >> what they're fighting over, guys, part of the food stamp program. the house and senate both passed verses of the farm bill. they're not that different except for the supplemental knew tricks program. you're looking at terrible, if we put corn prices, we're looking terrible prices for corn. good prices for corn but bad
4:54 pm
for people that have to buy it. >> feed is the most important ingredient producing milk. it is over 60% of the cost in producing milk. we've been dealing with drought. have highly perishable product like milk, like every other business we have plan ahead. with no form bill -- >> i got you. >> equipment this year, next year. >> i appreciate it. thank you to this little one. i will name her, not sure, norman. wasn't that "city slickers"? david: who could interview somebody, feed a cow and call for a corn chart at the same time. i mean, talk about triple tasking. >> i don't have many skills but doing all at once. liz: jack-of-all-trades. master of that one. thanks, jeff. david: have a good weekend. >> it is a full calendar for the economic data coming out this week. we have the top things you need to be ready for that could have a big impact on your portfolio. david: and one of the
4:55 pm
following places was ranked the best place in the world to be born in 2013. going to tell you which one it is coming right up. ♪ ♪
4:56 pm
♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going onow -- but hurry, the offer ends soon. now is a good time to think about your options. are you lookinfor a plan that really meets your needs
4:57 pm
and your budget? as you probably know, medicare oy covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. call today to request a free decision guide to help you better understand medicare and which aarp medicare supplement plan works best for you. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. there's a nge of plans to choose from, too. and they all travel with you.
4:58 pm
anywhere in the countr join the millions who have already enrolled in the only medicare supplement plans endorsed by aarp, an organization serving the needs of people 50 and over for generations... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. call today. rember, all medicare supplement plans help cover some of what medicare doesn't p -- expenses that could really add up. these kinds of plans could save y in out-of-pocket medical costs. you'll be able to choose ar who accepts medicare patients. and you never need referrals. if you're thinking about your options, call today. when you call, request your free decision guide. and find the aarp medicare supplement plan that may be right for you. liz: time to go "off the
4:59 pm
desk." you can't choose where you were born but it might make a difference in your future. the economist intelligence unit releasing its rankings of countries that will offer the best on tints for children born in 2013. drum roll please. in third place, the finish was norway. australia took the second spot. the best place to be born in 2013 is switzerland. the country is home to eight million people who seem to be enjoying a whole lot of chocolate and cheese. yeah. david: don't have wars there but best thing they have is the cuckoo clock and watches. time for the top things to watch next week. number three, construction spending. the last report showed construction making a comeback, rebounding .6%. economists expecting a rise of .5. liz: number two. ism manufacturing, institute of supply management showed a slight improvement in october rising 2/10 of

134 Views

info Stream Only

Uploaded by TV Archive on